M-KOPA Scales to 10m Customers, Delivers Record $600m Revenue

By Adedapo Adesanya

Inclusive finance company M-KOPA has reached 10 million customers since its founding in 2011, while reporting record revenue of $600 million for the 2025 financial year, which is 45 per cent higher than the previous year, as demand for the company’s smartphones, digital financial services and electric mobility products continued to grow across its five African markets.

Of the 10 million customers reached since inception, three million joined the platform in the past 12 months, reflecting continued demand in Kenya, Nigeria, Ghana, Uganda and South Africa.

In Nigeria, the company continues to scale.

According to the Managing Director of M-KOPA Nigeria, Mr Babajide Duroshola, “Since 2019, we have been breaking down barriers to formal financial services for Every Day Earners across Nigeria.

“In 2025, 77 per cent of our customers used their smartphones or digital loans to generate income, and 81 per cent of long-term customers reported improvements in their household expenses.”

“We are committed to scaling that impact,” he added.

The company also said it added about 200 full-time employees during the year, representing a nine per cent increase in headcount, while more than 5,000 new sales agents joined its distribution network.

“2025 was a record year for M-KOPA, with customer and revenue growth reaching new highs,” the company’s chief financial officer, Mr Faraimose Kutadzaushe, said.

He said the company maintained profitability while reinvesting in its products, technology and distribution network to expand its reach among underserved consumers across Africa.

M-KOPA currently employs more than 2,500 full-time employees and provides income-generating opportunities for nearly 50,000 sales agents.

The company now onboards about 10,000 new customers daily and processes micropayments at a rate of 23 transactions per second.

It said an increasing number of customers now use multiple M-KOPA products over multi-year relationships, including smartphones, digital loans and electric mobility products.

Founded initially as a provider of financed solar systems, M-KOPA expanded into smartphone financing in 2020. The company said it has since achieved a five-year compound annual growth rate of 50 per cent.

M-KOPA has also expanded into electric vehicle financing and said it has become an early market leader, with more than 10,000 electric motorcycles and three-wheelers operating on Kenya’s roads.

The company has increased investment in affordable smartphone design and manufacturing through technology acquisitions and the opening of what it describes as Africa’s largest smartphone assembly factory in Kenya.

Its latest generation of smartphones, the X4 series, was launched in October.

M-KOPA operates in Kenya, Uganda, Ghana, Nigeria and South Africa, providing asset financing for smartphones and electric motorcycles as well as digital financial services to micro-entrepreneurs excluded from traditional financial services.

The company said its platform has processed more than $2 billion in credit and more than two million payments daily.